Buy-to-let investors are set to increase their portfolios of properties by £72,500 in the next 12 months.
This takes an average buy-to-let property investor's portfolio value to £1.52 million.
"With good demand from tenants, interest rates that are low and expected to remain low, and a property market that has seen a soft landing, landlords have good reason to feel more positive now than they have for a year or so," said John Heron, Paragon Mortgages managing director.
Paragon finds that most landlords are experiencing stable or growing tenant demand, with 40% having increased rents during the last six months.
And spurred on by a drop in interest rates and increased rents, investors are set to increase the number of properties they own as well as expecting them to increase in value.
"This is to a significant extent a result of lower financing costs following the interest rate reductions, with investors able to borrow at very competitive prices, either on a fixed or variable rate basis. This has fed through into the recent resurgence of activity. In numerical terms, property investors expect to grow the size of their portfolios by 3.4 per cent from the current 11.8 to an average of 12.2 properties," Mr Heron explained.
However, not all investors are property millionaires yet.
Just one buy-to-let landlord in four has a portfolio worth more than £1 million, while one in eight controls more than £3 million worth of property.
So if you are looking for a buy-to-let mortgage, look no further.At www.mortgages.co.uk you can get the buy to let mortgage that suits you.
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Estate Agents Witness Buy-to-Let Investments Spiral Thu, 06 Oct 2005
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